The merger brings together two CEA-industry companies that now together offer a range of turnkey systems, from small grow rooms to state-of-the-art, off-grid, commercial-scale vertical farms that produce organic fruits, vegetables and herbs, year-round in any climate.
As a result of the merger, Biodynamics CEO Timothy Madden becomes the new chief operating officer (COO) of GreenGro Technologies. Madden will be managing a ten-acre, $25 million Greengro hydroponic indoor farm project with Global Renewable Resources, LLC, Shaker Heights, Ohio, along with other Greengro mergers and acquisitions currently in progress.
“By combining Greengro’s business operations with Biodynamics’ superior indoor vertical farming technology, Greengro will be able to offer one of the highest producing and most energy-efficient turnkey systems on the market, at a competitive price,” stated Greengro CEO James Haas. “Our research shows that Biodynamics’ ‘smart’ vertical farming technology is arguably among the world’s best, and we expect to make strong inroads into new markets as a result of this deal.”
Said Madden: “Greengro Technologies, a progressive innovator in the field of CEA, can now offer Biodynamics’ fully automated, turnkey, off-grid hydroponic vertical farms to a rapidly expanding customer base of companies entering the indoor farming arena. I believe the industry opportunities in early 2017 are enormous, and we are well positioned in the market to capitalize on the opportunities.”
Greengro has also completed business planning for the $7.5 million BP Gardens Glass Greenhouse Franchise agreed to last October with FoodRaiser Corporation, Dublin, Ohio. FoodRaiser provides schools, clubs, teams, bands, nonprofits, churches and numerous other organizations with organic product based fundraising opportunities. Several potential locations for the facility have been identified in the greater Columbus, Ohio, area. The project is expected to break ground upon the completion of the capital raise later this year, according to Haas.
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